The bill amends the Transportation Code to enhance the powers of regional transportation authorities, specifically by introducing a new General Mobility Program. Under this program, a unit of election within an authority governed by a subregional board can enter into an agreement to allocate up to 25% of the sales and use tax revenue for various mobility projects, including the construction and maintenance of sidewalks, trails, and roads, as well as traffic control improvements. The bill also stipulates that the unit of election must provide an annual list of intended projects and outlines the distribution of funds, with 50% available at the start of the fiscal year and the remaining 50% on a reimbursement basis.

Additionally, the bill modifies existing provisions regarding the pledging of revenue for bond security, allowing authorities to pledge up to 75% of tax revenue. It also introduces a new section that restricts the issuance of financial obligations by the authority upon receiving a notice of election related to withdrawal from the authority. The bill ensures that any revenue in excess of pledged amounts can be used for operational expenses and to fund the newly established General Mobility Program. The changes are set to take effect 91 days after the legislative session concludes.

Statutes affected:
Introduced: Transportation Code 452.357, Transportation Code 452.358, Transportation Code 452.651 (Transportation Code 452)